Annual Enrollment Period for Medicare Beneficiaries
The AEP – Annual Enrollment Period – for Medicare begins October 15 and continues until December 7. This is the time when those who are enrolled in Medicare should review their coverage to determine if any changes should be made for 2020.
As baby boomers turn 65 at the rate of over 10,000 people per day, the demand for insurance plans that work with Medicare is also “booming.” There are new companies and new products being introduced to Nebraskans for next year.
A new rule is being implemented that impacts Medicare Supplement plans F and C. Those who already are enrolled in Plan F or C will be allowed to keep them. However, those that become eligible for Medicare on January 1, 2020 or later will not have access to plans F and C. This change is the result of MACRA legislation that passed in 2015 that eliminated any plan that paid the Part B deductible.
A Medicare Cost plan will be offered for the first time in many rural counties. A cost plan is a new concept in Nebraska. It will provide more options in areas where there are very limited Medicare Advantage plans available.
The traditional combination of a Medicare Supplement + a Prescription Drug Plan continues as a popular choice. However, Medicare Advantage plans (MAPD) are quickly growing. MAPDs have been offered in the Omaha and Lincoln metro areas but are expanding into central Nebraska for 2020.
Your choices for 2020 will include:
- Medicare Supplement + Prescription Drug Plan – available throughout Nebraska
- Medicare Advantage Plan combined with a Prescription Drug benefit – available in 65 counties in Nebraska
- Medicare Cost Plan + Prescription Drug Plan – available in 51 counties
Be certain to meet with your professional insurance agent to review your Medicare coverage. The new products that are available could potentially result in more comprehensive coverage at a lower cost. The team at ComPro would be happy to explain all your options so that you can determine what combination of plans will be your best choice.